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Thank you
61.8 Fib is 145. Said yesterday it's making a strong case...posted chart if you want to click back on my posts. Good shot at getting there
Thank you
Ruh Roh
A lot of ugly candles across the board today
Don't know....didn't stick around to find out. .10-.14 and didn't look back
Tough market....short trades win out. Well done.
Keeping things small until Weds
Nice move today...needs to clear 97 for momentum.
In some BAC 14 C @.10
I'm ok with it. Own healthy LNKD position in my core. Also own MSFT.
Buying LNKD
All indecies closed below their 10DMA. I'm a seller of pops until it closes above again
$VRX (+3.1% pre) Valeant Pharma CEO Joe Papa Buys 202K Shares - Street Insider
Morning
Just a note on your NFLX chart regarding the Fib plots, the short-term plot (green) is correct and there could be a bounce, however the broader picture (Light blue) still has a 61.8 rejection, followed by a drop below the 23.6 Fib and then another rejection at the 50 Fib.....this tends to be a sell setup. It is forming the pennant. Just an observation.
Morning
Oldie but goodie
Don't have one in Boca....have to drive south the Ft Lauderdale to get one. Love their steak nachos too
Could bounce to 174 before moving lower. Overall bearish picture intermediate
PCLN, TSLA, VRX, WYNN
PCLN - This is NOT a bearish chart.
TSLA - Breakout of flag rejected, up trend line invalidated, price below 10EMA and bounced off 30DMA. Directionally agnostic here.
VRX - Falling wedge usually = bullish once breakout is confirmed. High alert on watch list.
WYNN - Absolutely. Nothing. Has. Changed. Everything is lined up for a very explosive move higher, dips continue to be bought at the 10EMA. Needs market to cooperate to get this thing moving. Price action still constructive as long as $95 holds.
IBB, ISRG, LNKD, NFLX
IBB - Channel, bear flag, consolidation channel...no clue. K.I.S.S. Buy at support and sell at resistance.
ISRG - Taking its time to develop this bullish move = healthy. Price > 10EMA > 30SMA. Close over $651.50 and it's time to back up the truck.
LNKD - Bullish
NFLX - $88-$90 target before any potential bounce. Price < 30DMA < 20 DMA < 10EMA.
FB, FCX, GDX, GOOGL
FB - Letting this one play out. Lost money on a couple trades on failed breakouts to upside. 10EMA crossed below 30SMA. BB still pinching which means an explosive move is coming....could just as easily be to downside as up. Watching lower trend line like a hawk here
FCX - Decision time
GDX - Long-term bullish
GOOGL - Held up well. Still in rising channel which some say is a wedge/bear flag. BB pinching implying big move coming, price below cloud but above major VBP band, below 10EMA but above 30SMA and 20DMA (BB midline). Explosive move coming....
AAPL, AMZN, BIDU, CMG
AAPL - Very bullish setup here with price above 10EMA which is over 30SMA (which just turned up this past week). Tends to be its own "market" and can move easily without broader market strength. Gun to my head, it bounces between 98 and 101 to create bullish pennant and releases to upside with gap fill at ~103
AMZN - Still in rising channel...looks like sideways consolidation over time to retest bottom of channel.
BIDU - Bearish. 10EMA crossed below 30SMA and price is below both. Price is testing lower trend line and RSI has plenty of room to fall. If price gets below that 160 area there isn't much to stop it from seeing 145 quickly
CMG - Presented with no comment, aside from they're gonna need a bigger boat Harry (for buyback cash)
SPY, QQQ, IWM, VXX
SPY - Ascending wedge? Retest of C&H breakout? False breakout/bull trap? No clue...but I still believe the action is constructive and we can have a healthy retest of the 203-205 area to set up new ATHs into the 3rd quarter. Heavy support at 205-207.50 area.
QQQ - Coming to a head. Could bounce right here into next week with 5 day RSI bottoming and 14 day tagging midline, but more likely to retest 106.50-107 heavy support area (major VBP band, rising trend line, Ichimoku cloud confluence). Price is below 10EMA, close at the 20DMA...if 20 breaks watch the 30SMA for next target area.
IWM - Broke minor up channel within major up channel. $112-$114 potential healthy downside targets.
VXX- Broadening parabolic pattern has my attention
Welcome to Moes!
Only transaction today...sold FCX 10.50 puts @.20 from .08
Enjoy the weekend...
Wish I had held onto that barbershop NFLX trade.....
Possibly. That is the max pain area from yesterday's OI....but if enough option action comes in throughout the day, they may shift that number
Alright I'm back in front of the monitor now....you caught me on the road and the only way I could post was a copy and paste from the iPhone.
Largest Put OI sitting at 210.....Calls also. Looking for a pin today
No clue....next week is quad witch so I'm wondering if they let the market flush to VWAP of even 21DMA to ramp into next weeks close. No clue
Morning. Spy close below $211.19 today and I'll start looking at puts.